Penalty System
Penalties are automatically calculated by the system for late contributions and loan repayments.
Contribution Penalties
When a member misses a contribution due date, penalties accumulate based on the fund's configuration:
| Penalty Type | How It Works |
|---|---|
| Daily | Fixed amount charged per day late (e.g., 5 PHP/day) |
| Weekly | Fixed amount charged per week late |
| Monthly | Fixed amount charged per month late |
| Fixed | One-time fixed penalty regardless of delay |
| Percentage | Percentage of the contribution amount |
Loan Repayment Penalties
Late loan repayments are penalized based on the fund's loan penalty rate (default 5% of the overdue amount). The penalty target determines where the penalty amount is added:
- Same repayment — Added to the overdue repayment itself.
- Last repayment — Added to the final repayment of the loan.
- Spread equally — Distributed across remaining repayments.
Waiving Penalties
Fund managers can waive penalties on a case-by-case basis. To waive a penalty:
- Go to the Penalties page.
- Find the penalty you want to waive.
- Click Waive and confirm.
Waived penalties are recorded for audit purposes but no longer count toward the member's balance.
Automatic Calculation
Penalties are calculated daily by an automated job at 01:00 server time. Members receive reminder notifications before due dates to help avoid penalties.